ArQule, Inc. (NASDAQ:ARQL) Expected to Post Earnings of -$0.10 Per Share

Brokerages expect that ArQule, Inc. (NASDAQ:ARQL) will announce ($0.10) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for ArQule’s earnings, with estimates ranging from ($0.11) to ($0.10). ArQule reported earnings of ($0.08) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The firm is expected to announce its next earnings results on Thursday, March 5th.

According to Zacks, analysts expect that ArQule will report full-year earnings of ($0.37) per share for the current financial year, with EPS estimates ranging from ($0.37) to ($0.36). For the next fiscal year, analysts forecast that the business will report earnings of ($0.40) per share, with EPS estimates ranging from ($0.48) to ($0.23). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow ArQule.

ArQule (NASDAQ:ARQL) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $1.20 million. ArQule had a negative return on equity of 33.10% and a negative net margin of 805.61%. During the same period in the prior year, the business earned ($0.05) EPS.

ARQL has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada downgraded shares of ArQule from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $12.00 to $20.00 in a research note on Tuesday, December 10th. Zacks Investment Research downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Wolfe Research began coverage on shares of ArQule in a research note on Tuesday, November 5th. They set an “outperform” rating and a $17.00 price target on the stock. Finally, BidaskClub downgraded shares of ArQule from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $16.78.

NASDAQ:ARQL remained flat at $$20.00 during trading hours on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.27 and a current ratio of 8.27. The company has a market capitalization of $2.42 billion, a P/E ratio of -125.00 and a beta of 2.49. ArQule has a 52 week low of $3.15 and a 52 week high of $20.45. The firm has a fifty day moving average price of $17.93 and a 200 day moving average price of $11.36.

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new position in ArQule during the 2nd quarter worth $26,000. Tower Research Capital LLC TRC acquired a new position in ArQule during the 3rd quarter worth $50,000. Requisite Capital Management LLC acquired a new position in ArQule during the 3rd quarter worth $72,000. Bank of Montreal Can grew its holdings in ArQule by 53,511.8% during the 2nd quarter. Bank of Montreal Can now owns 9,114 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 9,097 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in ArQule during the 3rd quarter worth $140,000. 74.63% of the stock is owned by institutional investors.

About ArQule

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.

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Earnings History and Estimates for ArQule (NASDAQ:ARQL)

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